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Sep 30, 2012
09/12
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minutes from the federal reserve's latest policy meeting will be released and we'll see where ben bernanke and the rest of the bankers see the economy headed right now and kraft foods will split into two separately traded companies. i'm tyler mathisen. get your business news on cnbc. >> a reminder you can get business and tech news before the bell weekdays on "today in the bay" starting at 4:30 in the morning. much more ahead on "today in the bay." race to the white house. candidates get some last-minute jabs before wednesday's big debate. >> good morning. i'm mike inouye. there's lots to do "today in the bay." let's start with the perfect mix of both sides of my life. being the traffic guy there and daddy guy at home. today at the motor sports park, take your teen to get real behind the wheel with the help of the alameda county sheriff's office. this safe driving event starts at 9:30 introducing young drivers to safe technique and to avoid distractive driving. it's open to those too young to get their permits. 14 and up can get behind the wheel here. sometimes those roads can seem like a
minutes from the federal reserve's latest policy meeting will be released and we'll see where ben bernanke and the rest of the bankers see the economy headed right now and kraft foods will split into two separately traded companies. i'm tyler mathisen. get your business news on cnbc. >> a reminder you can get business and tech news before the bell weekdays on "today in the bay" starting at 4:30 in the morning. much more ahead on "today in the bay." race to the white...
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Oct 1, 2012
10/12
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you feel right now ben bernanke is irrelevant. what do you mean in. >> bill, i think the fed's done the most part, they've laid all their cards on the table. if you're playing poker, they're all in. it's qe unlimited. if $40 billion is not enough, they'll go to $50 billion, $60 billion, $100 billion. each qe has had less of an impact. they're targeting the markets. we all know mortgage rates are at lows. the problem is people can't get mortgages. whether they go down another quarter point, it's not going to matter. the fed is all in. they're going to keep going until it doesn't work. the real solution is in congress. i thing k we all now our politicians aren't adults. it's not going to work. >> rick santelli, what do you think? >> which is why -- >> go ahead, maria. >> go ahead, maria. >> no, no, please. >> i told ltotally agree with p. he nailed it. here's how weird it was today with traders on the floor and ben bernanke. they were keen on the notion they don't think there's a big return to qe 3, unknown future exit problems. eve
you feel right now ben bernanke is irrelevant. what do you mean in. >> bill, i think the fed's done the most part, they've laid all their cards on the table. if you're playing poker, they're all in. it's qe unlimited. if $40 billion is not enough, they'll go to $50 billion, $60 billion, $100 billion. each qe has had less of an impact. they're targeting the markets. we all know mortgage rates are at lows. the problem is people can't get mortgages. whether they go down another quarter...
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Oct 1, 2012
10/12
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. >> stocks are higher and ben bernanke defended the u.s. central bank and monetary policy as it aims to show unemployment. nasdaq is down 8 and s&p 500 is up 2. >>> macy's' has made an announcement that could make this a happy holiday season for people looking for work. they are looking to hire 80,000 seasonal workers and it's a 2. 5% increase than last year. they are using bloomingdale. most of them will be part-time. stores begin to typically higher in october. >>> yahoo's ceo has a new job, mom. mom and baby has been announced and no name has been picked yet. she announced she was pregnant as she took over in july and she said she was just planning to take a few works weeks off -- a few work weeks off in september. >> how did you find this place... >> the movie was number one in box office numbers it was one of the strong get box office win. they had trouble with the curve and they rack up the sign. it will be stripped down and given a new coat of paint. it will take 10 weeks to complete and today on ktvu channel 2 morning news at 50/50,
. >> stocks are higher and ben bernanke defended the u.s. central bank and monetary policy as it aims to show unemployment. nasdaq is down 8 and s&p 500 is up 2. >>> macy's' has made an announcement that could make this a happy holiday season for people looking for work. they are looking to hire 80,000 seasonal workers and it's a 2. 5% increase than last year. they are using bloomingdale. most of them will be part-time. stores begin to typically higher in october....
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Oct 2, 2012
10/12
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i think the deterioration in stocks is just a little bit of white noise, maybe people listen to ben bernanke yesterday. it just didn't add up. i can't tell you what was going on. >> what didn't add up, rick? how about the milton friedman stock? i know you've been all over that all day, so i brought a quote for you, rick. >> uh-oh. >> i brought a quote. milton friedman in his own words. now, rick, i know what you said, that anna schwartz -- >> i figured you were on for a reason today. >> what's that? >> i figured you were here for a reason. >> go ahead. >> i'm here to talk about jobs, but if we could have an aside, discussion, me and rick on the side. here's what milton friedman said in his own words in 2000. now the bank of japan's argument is, oh, well, we've got the interest rate down to zero, what more can we do? it's very simple. they can buy securities and they can keep buying them and providing high-powered money in until the high powered money gets the economy in an expansion. >> must have been a fun dinner conversation around the friedman table. >> exactly. >> i'm only talking about
i think the deterioration in stocks is just a little bit of white noise, maybe people listen to ben bernanke yesterday. it just didn't add up. i can't tell you what was going on. >> what didn't add up, rick? how about the milton friedman stock? i know you've been all over that all day, so i brought a quote for you, rick. >> uh-oh. >> i brought a quote. milton friedman in his own words. now, rick, i know what you said, that anna schwartz -- >> i figured you were on for a...
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Oct 2, 2012
10/12
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bernanke speaking about the fed's new stimulus measures. >>> european markets are mixed this morning. the dow rising 78 points in yesterday's trade and the nasdaq slipping about two points to close at 3113. >>> and google has come a long way from its humble beginnings as a tiny search engine. it's now passed microsoft to become the world's second most valuable tech company behind apple. google stock closed at an all-time high of $761 a share on monday. it's now the dominant force in online advertising with two-thirds of the u.s. search market. google's android powers 64% of all smartphones. a u.s. judge has lifted a pan on galaxy tablet. apple won the suit. the judge said it didn't infringe on any apple devices. like the galaxy tab is an older model, it could boost samsung sales ahead of the holidays. something to watch out for. back to you. >> seema, thank you very much. >>> certainly keeping our eye on the forecast. christina, you weren't kidding, it was hot yesterday. >> smokesmoker. >> hottest day of the year at the coast. >> isn't it something, it's october. >> if our weather wa
bernanke speaking about the fed's new stimulus measures. >>> european markets are mixed this morning. the dow rising 78 points in yesterday's trade and the nasdaq slipping about two points to close at 3113. >>> and google has come a long way from its humble beginnings as a tiny search engine. it's now passed microsoft to become the world's second most valuable tech company behind apple. google stock closed at an all-time high of $761 a share on monday. it's now the dominant...
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Oct 1, 2012
10/12
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ben bernanke will also get a lot of attention when minutes from the latest policy meeting are released. >>> september auto sales are also on tap. experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to protest sweeping budget cuts and austerity measures included in a 2013 draft budget. >>> elsewhere, on the heels of apple's flawed debut of the flawed map app, oracle customers will have access to nokia's data and location services. >>> hewlett packard is set to roll out a new device that will work with microsoft's new windows 8 operating system. the elite pad 900 comes at a time when, according to new research from the pew center, half of all adult americans now own either a tablet computer or a smart phone. >>> and finally, who says that crime doesn't pay? two guns that belonged to famed partners in crime bonnie and clyde s
ben bernanke will also get a lot of attention when minutes from the latest policy meeting are released. >>> september auto sales are also on tap. experts predict sales are up nearly 11% over last year. >>> meanwhile, according to aaa, the price of regular gas is down about five cents in the past week to an average $3.81 a gallon. >>> overseas this morning, uncertainty about spain's bailout weighed down asian stocks. thousands filled spain's capital this weekend to...
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Oct 1, 2012
10/12
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today we get numbers on manufacturing and construction spending and fed chairman ben bernanke speaks this afternoon. the dow falling 48 points on friday, the nasdaq losing 20 points. if president obama is re-elected one of his first priorities may be to find a replacement for treasury secretary tim geithner. geithner has hinted more than a year he wants to leave. the "wall street journal" reports chief of staff jack lu and erskine bowles are top candidates. bowles co-chaired the white house deficit commission in 2010. back to you. >> okay, thank you very much. we'll check back a little later on. >>> first day of october going to feel like july. >> it's not going to feel good. it is not going to feel good at all. >> in the pool. >> yeah, in the pool if you can jump into the ocean, it's actually going to be refreshing today. you're getting some pretty warm temperatures out there in the pacific, if you have the luxury of not having to go to work. if you do have to go to work, you want to get right to the shady spot before the other guy does because it's going to be hot out there or just
today we get numbers on manufacturing and construction spending and fed chairman ben bernanke speaks this afternoon. the dow falling 48 points on friday, the nasdaq losing 20 points. if president obama is re-elected one of his first priorities may be to find a replacement for treasury secretary tim geithner. geithner has hinted more than a year he wants to leave. the "wall street journal" reports chief of staff jack lu and erskine bowles are top candidates. bowles co-chaired the white...
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Oct 2, 2012
10/12
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. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget deficits. >>> get ktvu news to go now. download the ktvu app, click on the live icon and you can watch all of our newscasts live right there on your mobile device. >>> a bay area man who started an innovative anti poverty program says he is deeply honored to learn he is the winner of a mcarthur genius award. maurice lim miller started the family independence initiative back in 2001. the initiative now has several pilots around the country. miller's initiative brings community members together such as these people in san francisco to share resources and problem solve as they work toward educational, finan
. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget...
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Oct 2, 2012
10/12
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the fed chairman, which someone might have a chance to replace ben bernanke with next year, the national economic council director, which is basically the white house chief economic adviser and wildcard, wildcard would cob office of management and budget exchief of staff or favorite idea is budget czar, mr. mayor, michael bloomberg, who scored high on that. so you can -- >> all three of ours, former bosses, by the way, michael bloomberg was at once all three of our bosses. >> exactly. maybe we are bias. >> clearly hires good people and intensely qualified. >> he knows exactly how to gem gate. the basic idea, you get to delegate, choose the economic team and you can mix and match. you can say, okay, romney wins, put erskine boles in, scores very high on our model, as treasury secretary or budget czar, something like that or if you're president in a 2.0, say i want meg whitman to be in a tie. >> how did you pick the names? i played your little game aged lost. no winner. >> you choose one. >> i had 66 on dems, 65 so actually i went to the blue side, randomly. >> look at you, you democrat yo
the fed chairman, which someone might have a chance to replace ben bernanke with next year, the national economic council director, which is basically the white house chief economic adviser and wildcard, wildcard would cob office of management and budget exchief of staff or favorite idea is budget czar, mr. mayor, michael bloomberg, who scored high on that. so you can -- >> all three of ours, former bosses, by the way, michael bloomberg was at once all three of our bosses. >>...
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Oct 2, 2012
10/12
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. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget deficits. >>> get ktvu news to go now. download the ktvu app, click on the live icon and you can watch all of our newscasts live right there on your mobile device. >>> a bay area man who started an innovative anti poverty program says he is deeply honored to learn he is the winner of a mcarthur genius award. maurice lim miller started the family independence initiative back in 2001. the initiative now has several pilots around the country. miller's initiative brings community members together such as these people in san francisco to share resources and problem solve as they work toward educational, finan
. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget...
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Oct 1, 2012
10/12
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stocks gave back much of the gains after federal reserve chairman ben bernanke defended the central bank's latest bond buying stimulus program. is that a red flag that this fed-fueled rally is in trouble? top strategists are weigh in tonight. take a look at how we're finishing the day on wall street. as you can see, things settled out, dow jones industrial average held on to a double-digit move, although well off of that 161-point rally. the nasdaq went negative, although it, too, came back off of the worst levels finishing flat on the session. that had everything to do with apple. apple stock today down bringing the rest of the market down with it. it is in so many portfolios. s&p 500 up. it's the last day of the quarter of the year. we closed off the highs of the day. not a bad way to kick off the fourth quarter. is today's performance a good indicator of what's ahead? should investors be bracing for a rocky road going into year end? i bring in right now wells fargo adviser, chase investment council, peter, cnbc.com's jeff cox, our own rick santelli. good to see you all. thank you so muc
stocks gave back much of the gains after federal reserve chairman ben bernanke defended the central bank's latest bond buying stimulus program. is that a red flag that this fed-fueled rally is in trouble? top strategists are weigh in tonight. take a look at how we're finishing the day on wall street. as you can see, things settled out, dow jones industrial average held on to a double-digit move, although well off of that 161-point rally. the nasdaq went negative, although it, too, came back off...
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Oct 2, 2012
10/12
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>> we heard from ben bernanke yesterday. the federal reserve chief. he's a scholar of the great depression. he is pledging again, ladies, that we are going to avoid another great depression. he's promising to keep stimulus going until even after, even after the economy starts to recover to make sure we don't repeat the mistakes made into the 1930s, which is when we pulled our foot off the accelerator too soon in the economy, and just as it was starting to recover we started to tighten monetary policy and boom, threw the economy into the second great depression. the great depression scholar ben bernanke is trying everything we can to make suree don't fall down again. >> it's comforting to hear that, isn't it? >> well, some people are concerned that it will cause inflation down the road but everyone is trying to keep the ship staling right now. >> all right. and you've got road warriors? >> that's right. another road warriors for you. if you're a business traveler, looking to meet others while you're on a trip, good news. there are now plenty of apps an
>> we heard from ben bernanke yesterday. the federal reserve chief. he's a scholar of the great depression. he is pledging again, ladies, that we are going to avoid another great depression. he's promising to keep stimulus going until even after, even after the economy starts to recover to make sure we don't repeat the mistakes made into the 1930s, which is when we pulled our foot off the accelerator too soon in the economy, and just as it was starting to recover we started to tighten...
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Oct 2, 2012
10/12
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. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election seven weeks away. this happened on the president's watch. he was suggesting a solution. i said we must work together in a bipartisan way to get this done. but the fact is is that they knew, they were withholding the information from congress because they were hoping to get to the election, in my view. but the fact is four years ago the end of september if we didn't act immediately, we would not have an economy by monday. that would have been a disaster for our country. so while we want to do more to help individual families and the republicans instructed that in the last two years, the fact i
. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election...